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View Full Version : Half of U.S. households pay no income taxes at all




doodle
04-17-2011, 02:57 PM
How do they do that:


By STEPHEN OHLEMACHER, Associated Press Stephen Ohlemacher, Associated Press – 52 mins ago

WASHINGTON – As millions of procrastinators scramble to meet Monday's tax filing deadline, ponder this: The super rich pay a lot less taxes than they did a couple of decades ago, and nearly half of U.S. households pay no income taxes at all.

The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992.

http://news.yahoo.com/s/ap/us_no_taxes

eduardo89
04-17-2011, 02:58 PM
But we need to raise taxes on the rich to make things more fair!

doodle
04-17-2011, 03:11 PM
No. But it would be interesting if we understood how so many people are getting poorer. I don't know where "idels" comes from but interesting chart:

http://static4.businessinsider.com/image/4cb47fb47f8b9a6a6ede0100/chart.jpg

http://static2.businessinsider.com/image/4cb47fcd7f8b9a1a6f460100/chart.jpg

Zippyjuan
04-17-2011, 03:16 PM
I think the article covered the explination pretty well. With more on the lower end not owing taxes and those on the upper end paying less,

The super rich pay a lot less taxes than they did a couple of decades ago


The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992.


that means that more of the total burden must be being paid by the shrinking middle classs.

ItsTime
04-17-2011, 03:17 PM
We are 43% of the way there only 57% more to go. NO ONE should be paying income tax period!

TheNcredibleEgg
04-17-2011, 03:23 PM
that means that more of the total burden must be being paid by the shrinking middle classs.

Yes, the middle class is paying it - but not directly paying it - since those taxes are also lower.

The missing burden is being financed via deficits currently - so that means the inflation tax is the missing portion - which (back to your point) hurts the middle class and poor the most. So, yes, the middle class is paying it - indirectly via inflation tax.

(I've tried and tried to explain that position to people on the left. That the gov't deficits hurt the middle class most via inflation - and that Ron Paul's policy (balanced budget) would help the middle class most - but with little luck.)

doodle
04-17-2011, 03:30 PM
I think the article covered the explination pretty well. With more on the lower end not owing taxes and those on the upper end paying less,



that means that more of the total burden must be being paid by the shrinking middle classs.

I'm reading rest of it now.

The charts also helped clarify it. If chart depiction is factual and bottom 80% of population owns just 7% of total wealth and top 5% owns about 75% of total wealth, these tax stats start to become comprehensible.